A neutral metal protease has been identified which cleaves native type V collagen under conditions where pepsinized type IV collagen or the interstitial collagens are not significantly degraded. The enzyme is secreted into the media of cultured M50-76 reticulum cell sarcoma (malignant macrophages) and leiomyosarcoma tumor cells. Biosynthetically labeled type V collagen prepared from organ cultures of human amnion membrane is used for a routine assay of type V collagenolytic activity. The partially purified enzyme a) exists in a latent form requiring trypsin activation for maximum activity; b) has a molecular weight estimated by molecular sieve chromatography of approximately 80,000 daltons; c) is inhibited by EDTA but not phenylmethylsulfonyl fluoride; and d) produces specific cleavage products of both A and B collagen chains.